Kernel's net profit for 9M FY2017 dropped 74 percent

Kernel's net profit for 9M FY2018 decreased 73.6 percent to USD 50.7 mln.

The company's net loss for Q3 FY2018 reached USD 39.1 mln vs USD 32.9 mln of net profit for Q3 FY2017.

Over 9M FY2018, EBITDA decreased 30.7 percent to USD 196.2 mln.

Revenue for the indicated period fell 2.7 percent to USD 1.61 bln, whereas for the Q3 it decreased 12 percent to USD 541.4 mln.

"The decline is caused by lower sales volumes of sunflower oil and grain," the report writes.

Previously it was reported that TFI PZU SA, acting for and on behalf of investment funds under management, had decreased its holdings in Kernel by 4.64% having disposed 342,708 shares of Kernel Holding S.A. on the Warsaw Stock Exchange.